The National Association of Insurance Commissioners ("NAIC") has released State Ahead, the organization's strategic plan. The plan highlights specific investments the NAIC will be making over the next three years to support state insurance regulation.
"State Ahead provides the roadmap for the NAIC and state insurance regulators in our rapidly changing environment to put the states in a leadership role on key issues, position the organization ahead of the curve in developing areas, and to provide the organization and its members with the tools, talent, and technology needed to effectively regulate in this dynamic landscape," said Julie Mix McPeak, the NAIC's president and the Tennessee Commissioner of Commerce and Insurance.
State Ahead is organized into three core themes:
(1) Safe, Solvent and Stable Markets;
(2) Consumer Protection and Education; and
(3) Superior Member Services and Resources.
The themes are supported by goals and objectives outlined in the plan. In addition, the document includes a summary of planned and anticipated financial investments.
"The plan capitalizes on an opportunity to provide a credible state vision for the evolution of our regulatory support tools," said the NAIC's chief executive officer, Michael F. Consedine. "In the next three years, we are going to build an enduring and robust regulatory framework that accounts for the transformation of the markets our members regulate."
"Technology and consumer expectations are shaping how insurance companies operate, and regulation must keep pace with this change," said Andy Beal, the NAIC's chief operating officer and chief legal officer. "This plan makes sure we are keeping up with the member support services our state insurance departments need in the face of this change."
The plan is available on NAIC.org.